Marketing Plan

Movados business is designing, manufacturing and distributing timepieces worldwide. Timeless works of art. The name Movado translates to "Always In Motion" in the universal language Esperanto. Movado wants to be leading its industry. They plan to do this by formulating a distinct image. Ongoing product development, design and innovation are its driving force and ring true to its name. They offer products with the best design and quality in its category. When you purchase a Movado you can believe your getting what you've paid for and than some.

The strengths are seen in its product. continued success for such a long period. they continue to bring forth a product of elegance, beauty, class. While adding sport products for versatility. Weaknesses are other product in this category. To a lot of consumers a watch is just that, a watch. There are many substitutes. Like  Fossil or Timex. For those who can afford something more expensive like a Rolex... A Rolex is not a substitute in the sense of the word, but to a watch lover like I, Rolex says something different. I would own one if I could, but a Rolex says I have money, but Movado say I have style and class.

We also a large geographic presence, global regions such as North, Central and South America, Nothern, Central and Southern Europe amoung others. Most notable and recent Hong Kong and greater china. This expansion brought about a 50% growth within its first yr. Capitalizing in emerging markets. Rising popularity in online shopping, brings about our website changes. Bring customers straight to our focus of our origin in watches removing our jewelry pieces. With cars like bentley they have their featured watch of Breitling. Now in 2013 we are introducing the collaboration with Ferrari in Italy. Rising cost in raw materials is also hurting our future cost.

Our styles most marketable are those inspired and worn by our ambassadors. Kerry Washington acclaimed actress and arts advocate featured on the website wearing a piece from the Cerena collection is also seen at events not hosted by Movado wearing other pieces from different collections. Derek Jeter a Major League Baseball player is also featured on the website wearing a Series 800 piece. Wynton Marsalis is an internationally acclaimed musician, composer and educator on the website wearing a Vizio piece.

Targeting consumers 25 and older looks best. Consumers that are fans of the ambassadors and have purchasing power. When we think purchasing power we think individuals with their own earned money to spend. I paid for my first Movado over a month and a half on a layaway plan from and individual jeweler at the age of 19, at the price of $395 USD, it is the second most personally valued purchase. Only second to my MacBook Pro which I'm writing this on, and was purchased three years later. So our targets are consumers who are sports, arts and music fans. most likely living independently. People want to have what they see the people they are fans of wearing. This appeals internally and externally. Since we are capitalizing on emerging markets and the use of online shopping we need something else.

Capitalize on Rising raw material cost.
-Take 1 yr expense on ads + 1 yr regular raw material cost and purchase materials
-Only produce exact numbers from last yr (purchase in wholesale and sold at maximum price)

Re-astablish the want for museum house pieces by collectors by making them available for purchase
-Take the Andy Warhol Times/5 timepiece and place it back into production
-Produce and package limited number to be auctioned off in the major sale unit of each global region
-Auction of each piece at 5x base value
This will make the next art piece more desired, continue with the release of another design in 6 months
Than add the previous piece to the website for purchase at the highest previous bid on that piece, so like select car companies this product is truly available exclusive with completed order and purchase.

Satisfy employees
-with a timepiece as a gift amounting to no more than 2 weeks total pay

Ch. 16 -Integrated Marketing Communications

Movados main form of advertising is mass communication. Whether its in magazines on taxi billboards or over the internet through email. It happens in a mass amount. I see most of the advertisements through email. The advertising department encodes the messages and sends them out. The messenger is the channel and when i receive it my email decodes it into visual.  I am the receiver. The ads help in the pull strategy because if I had the money and didn't see the product at the retailer I would request them to get it.

Ch. 10 - Product Concepts

Movado is a Specialty product. It falls in the likes of products that represents class and style. The products tend to be gifts to and from yourself or family. Which makes it special. The brand names and quality of the retailers selected to sell products in this class and important to the marketers. If i was with this would become one of my most sought after convince product because it would be a simple easy purchase. I would probably own every Movado created and give them out as gifts because I love seeing them so much.  

The SKYMAP design is the newest product item added to the Movado watches product line. With an alligator strap the Beautiful piece retails at $3,195. 

Movado Inc is the brand, Movado is the brand name for this branch of the products, the Inc includes several other brand named watch branches such as Coach, Hugo Boss, Lacoste amongst others. The watch destines for all the other stem from the original Movado Brand. Movado-Always in motion. 

Upon purchase the packaging presentation begins like a slide show, case into case of hand crafted leather and a design specific to the product including the Guarantee card ensuring the product of Movados factory and standard warranty. 

Ch. 18 - Sales Promotion and Personal Selling

 As long as I've been a consumer of Movado watches I have never seen a sale. The individual Retailers have they're own sales.  I would make the guess that trade sales promotion trade allowance is a big reason for this. Being that Movado no longer has their own boutiques they depend on retailers such as Zales, Kay, and other Jewelers. If i look at a product on the website i can take the product number and price to a jeweler such as these above and they would give me a price slightly more than the price they paid. With the goal being immediate sale of the product this helps because if a jeweler couldn't do this with a product consumers would just be referred to a less expensive similar replacement. Such as when I first walked in to a jeweler to buy a watch, that particular jeweler didn't carry Movado but carried Citizen. As far as product image Movado and Citizen don't quite compare. Citizen grabbed my attention with its detail and design so some might go with them if not proposed the opportunity to purchase a Movado at a lower price. The Best feature of selling this type of product is the environment they are sold in, Jewelers are required to meet many sales standards companies want to see when they're product is being sold for good sales results. Why would someone go into jewelry sales and purposely avoided looking like other well established jewelers. Clean stores, well managed displays, and good sales representatives allow for sale and profit in this business. Placing Movado in established jewelers keeps Movado from doing the hardest part themselves. The stores build relationships, complete the sales process and get referrals. Networking takes place everyday in every business. If someone works for Zales and has a friend that works in another business that the Zales worker in interested that want to network with the ability to "hook em up" and the jewelry store. Its the jewelers responsibility to establish the needs of the customer, follow the sales proposal and make the presentation. With out having to do a follow-up, with an in store purchase closing the deal is it and the goal of immediate is reached.

Ch. 17 - Advertising and Public Relations

Movado spent $12.64 Million in advertising last yr. Product placement is their key to catching their target markets eye. Being affiliated with the right athletes and entertainers of sorts. Placing themselves in the right magazines like GQ repeatedly. Since I began my obsession with fashion like shoes and watches I can count on GQ magazine showing me what I want to see. Chapter 3 product ethics and social responsibility blog, I described the making of the Pink Ribbon Bold series Movado. This relates to cause-related marketing and sponsorship, Movado found a cause to appeal with and gain new customers and show current consumers creativity continues. 

Ch. 15 - Retailing Metropolitan Museum Of Art Store

 The Metropolitan Museum Of Art store is a chain. Owned and operated by the Met Museum. They have the main location in Rockefeller Center. One of the biggest tourists attractions in NYC. They also have satellite locations worldwide, online shopping available as well. They specialize in selling products associated with the museum. The store creates a connection between the museum and the world of art. Most of the products sold a created internally by the staff of art historians, designers and craftspeople to ensure that the reproduction items appear as close as possible to the original. Only the best will be offered for sale. They offer a membership like those warehouse clubs. This membership gives you unlimited visits to the museum, 10% discount at the store, seasonal double discounts, and members only previews to special exhibitions, etc.

 Along with the rest of the economy the independent boutiques suffered in sales so just like Movado the Met Museum decided to close down a few of its stores. The locations were beautiful such as San Francisco and Pasadena in 2008 and Century City in 2009. The other locations continue to do well, but the online store grows and the mail order catalogue thrives. The atmosphere of the retail store is beautiful. The employees all smile and are very helpful. The are plenty of associates wandering the store helping you shop informing you about products and keeping the products organized. The counter windows to contain too many products, well spaced and visible allows you to choose products to purchase.

Ch. 6 - Consumer Decision Making

Marketers need to appeal to the consumer decision making process in some form in order to get us to purchase the product. If this is accomplished consumers will return to buy again. If ads present a want factor to a consumer thats not enough to get them to purchase. For instance seeing something makes you want to buy it.  When I see an ad like the one above I associate Movado with my favorite type of music and an important figure like Winston Marsalis in that form of music. Movado is saying to me, "look things you admire, are with us". External stimuli and internal stimuli occur, so the want factor is there and their not even showing their product just the name. Now I go through my information search for why I' m going to purchase another watch. My internal search tells me that with the past two purchases I was satisfied, and I love wearing my watches. Doing external searches can tell me what kind of watch I' m looking to purchase. If I base this purchase on what I see that is marketing controlled like ads I see and hear it might be enough, to a consumer like my self who is impulsive it is enough. Other consumer see this ad and may talk to family or associates and their experiences with Movado and or jazz music will get them to purchase. Being someone that attends jazz clubs is like a subculture, not things that have been passed done from generation to generation but things I have come across on my own. My family is hispanic so salsa clubs are more their immediate culture appeal to product buying so if this ad featured Carlos Santana it would appeal to more family. The Movado Brand is a social class that holds their standard for well made watches high but affordable. I purchased my first Movado at 18. Buying a Movado is not like purchasing a Rolex. With research you find that Movado is an originator in well made watches and the product is superb. Maslow's Hierachy of Needs, present the needs that push consumers to purchase a product, Self-actualization needs is the smallest because thats not the reason why people purchase products most of the time. 

The ad above fills in most of the needs and gives me just the reasons I want to purchase another Movado Product. "People need what they don't want, and want what they don't need." We from generation to generation have heard and said this yet we continue to purchase products on the basis.